After the withdrawal of Elizabeth Warren's candidacy to head the new Consumer Protection Bureau, President Obama nominated former Ohio Attorney General Richard Cordray for the position. However, like Elizabeth Warren, the chances of the Republicans confirming him, or anyone else, for the position are slim to none.
The president was evidently planning to use the current congressional recess to make a recess appointment of Richard Cordray to the position, but the Republicans came up with volunteers to stay behind and keep the senate in session so that a recess appointment cannot be made.
Or as Thom Hartmann puts it, "filibustering while they're sitting by the pool with their billionaire donors."
Over the next month – a series of “pro forma” sessions will be held that technically keep the Senate in session even though no Senators are in town and no business is being done – just so Republicans can keep up their opposition to the new consumer rights agency that would stop big banks from screwing over the rest of us.
The Republicans have demanded that the new Consumer Protection Bureau be de-fanged and neutered before they would allow the appointment of anyone to the position.